The Vietnam Shipbuilding Industry Corporation (Vinashin) has signed a contract with the Dutch Damen Shipbuilding Corporation to establish a shipyard in the northern port city of Hai Phong.
The 42-ha Damen-Vinashin shipyard, which will be built at an estimated cost of €30 million, is scheduled for operation after two years of construction.
The joint venture will manufacture various kinds of ships like tug boats, high-speed ships, and vessels for offshore services.
The signing marks a new development in the Damen-Vinashin cooperation. The two firms has cooperated to build SAR rescue ships in Vietnam for many years.
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